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will need to pay more in taxes. that would be economic patri patriotism. it was a good day on wall treat. the dow jones still up 80 points today. finishing at 13575. and the s&p 500 tonight finishing at 1461 on the standard and poors at 500. thank you to larry fink. i'll see you tomorrow on the closing bell. have a great night. see you tomorrow. >> a
will need to pay more in taxes. that would be economic patri patriotism. it was a good day on wall treat. the dow jones still up 80 points today. finishing at 13575. and the s&p 500 tonight finishing at 1461 on the standard and poors at 500. thank you to larry fink. i'll see you tomorrow on the closing bell. have a great night. see you tomorrow. >> a
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it now takes in more gambling tax money than nevada. indiana, new york and louisiana all rake in more than half a billion a year. nationally kw lly gambling is $ billion a year in revenues but 8 $8 billion in taxes. took 3,500 construction workers to build this place. 2,000 casino workers staff it. obviously it is a big deal in terms of job creation. now there are indirect jobs, too, expected to be built around this facility because they want to build up the area. now the biggest question is supply/demand. new jersey's been absolutely cannibalized by what they've added in mad added in pennsylvania. next spring they'll open their fourth casino. eventually they'll open one of these things and it is not going to do well, but right now there is a demand for it. >> it is definitely hopping there. brian schactman, have a good time. spend some money. >>> so are casinos a good bet for a community? for your community perhaps? joining us, jim rubens, chair of the granite state coalition against expanding gambling. on the cnbc news line, judy patt
it now takes in more gambling tax money than nevada. indiana, new york and louisiana all rake in more than half a billion a year. nationally kw lly gambling is $ billion a year in revenues but 8 $8 billion in taxes. took 3,500 construction workers to build this place. 2,000 casino workers staff it. obviously it is a big deal in terms of job creation. now there are indirect jobs, too, expected to be built around this facility because they want to build up the area. now the biggest question is...
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reason why is easy -- jobs and its taxes. but when you saw these doors open earlier today, thousands of people streamed in within minutes. obviously there is a lot of demand of what's going on here. they're here for one thing and one thing only -- that's to gamble. one-third of all the money made to penn national gaming goes back to the state and city in taxes. the city of columbus expects to get at least $15 million directly next year and that will go a long way. of course, interestingly when you spoke to t i spoke to the city's mayor today, he was just as focused on job creation. the city needed 3,500 workers to build it and 2,000 employees . >> the more jobs you have in a community, the more income there is to the city. >> ohio's considered a swing state. right? but unemployment here has been running well below the national average. we look at a few dealers doing their thing here. been below the national average for a while. looks like today a lot of people played hookie. at least 5,000 people have been here. there are a f
reason why is easy -- jobs and its taxes. but when you saw these doors open earlier today, thousands of people streamed in within minutes. obviously there is a lot of demand of what's going on here. they're here for one thing and one thing only -- that's to gamble. one-third of all the money made to penn national gaming goes back to the state and city in taxes. the city of columbus expects to get at least $15 million directly next year and that will go a long way. of course, interestingly when...
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they want to know their tax base is going to be for next year. they want to know what capital gains rates are going to be. you know, all those things. do you think that really is what could end the log jam for a lot of small investors out there to get them back into the market again? >> i think that would certainly help. i think we will get through this election with a lot of uncertainty. just on the oh side of the election, it seems likely that everybody's incentives will change and congress will go to work on some of the worst parts of the fiscal cliff. i think that could engender a lot of confidence and some re-entry by retail investors. >> all right, dick. good to see you. thank you for joining us. have a good conference tomorrow. >> thank you very much. >> you got it. >> we'll see you soon, dick. >> head of janus. all right, heading toward the close here. 18 minutes left. we're coming off the lows, down 48 points on the dow. >> remember when president obama said this -- >> somebody helped to create this unbelievable american system that we h
they want to know their tax base is going to be for next year. they want to know what capital gains rates are going to be. you know, all those things. do you think that really is what could end the log jam for a lot of small investors out there to get them back into the market again? >> i think that would certainly help. i think we will get through this election with a lot of uncertainty. just on the oh side of the election, it seems likely that everybody's incentives will change and...
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they are focused on new tax, on capital gains basically, wants the capital gain to be taxed at the same level as salaries and that's the problem for young entrepreneurs because when you create a small company, you don't pay yourself a huge salary, and the only way to make money out of it, to be rewarded for your hard work is to resale your company some years later, if it's successful, of course. and in that case, if you sell your internet company for perhaps ten million euros, you will have to pay up to 60% in taxes. that's their own calculations. that's to compare with 32% right now. that's the reason why they've created this movement on the internet. 23,000 fans on facebook, more than 5,000 followers on twitter. i'm not sure they're going to convince the government, but at least they managed to put the debate on the table. >> thank you very much. >>> elsewhere, ag bar has been ground an extension on their major talks. the u.s. takeover panel has given the two companies until the end of the month to decide on a potential 1.3 billion pound tie-up. meanwhile, another deadline also looms
they are focused on new tax, on capital gains basically, wants the capital gain to be taxed at the same level as salaries and that's the problem for young entrepreneurs because when you create a small company, you don't pay yourself a huge salary, and the only way to make money out of it, to be rewarded for your hard work is to resale your company some years later, if it's successful, of course. and in that case, if you sell your internet company for perhaps ten million euros, you will have to...
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federal income tax, state taels tax, gasoline tax, it added up to well over 50% of what they earned. and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent business has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do is i bring down the tax rates, lower deductions. lower deductions and exemptions to create more jobs. because there's nothing better for getting us to a balanced budget than having more people working, earning more money, paying more taxes. that's by far the mos effective and efficient way to get this budget balanced. >> jim, you may want to move on to another topic, but i would say this to the american people. if you believe that we can cut taxes by $5 trillion and add $2 trillion in additional spending that the military is not asking for, $7 trillion just to give you a sense over ten years that's more than our entire defense budget. and you think that by closing loopholes and deductions for the well to do somehow you will not end up picking up the ta
federal income tax, state taels tax, gasoline tax, it added up to well over 50% of what they earned. and your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent business has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. and so what i do is i bring down the tax rates, lower deductions. lower deductions and exemptions to create more jobs. because there's nothing better for getting us to a balanced...
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because they already don't pay taxes. mitt romney is showing time and time again that he's going to be the president of the whole country and his plan really speaks to that both on economy, foreign policy and other points about so that there is no question this debate is important, but also you are right, there's a long time left. there's two jobs reports that are left. about 33, 34 days that are left in this campaign. it's a long time. but what you saw going into this debate are polls tightening in florida, in ohio, all across the board in the battleground states. and this will build on that momentum. and when the jobs report comes out, there will not be a positive jobs report by all expectations from president obama that will again build on that momentum and add to mitt romney really getting toward november 6th with full steam ahead. but there are two debates left. it's important for mitt romney not to have a let down in the next debate which is more of a town hall structure. and that bodes well for president obama. but
because they already don't pay taxes. mitt romney is showing time and time again that he's going to be the president of the whole country and his plan really speaks to that both on economy, foreign policy and other points about so that there is no question this debate is important, but also you are right, there's a long time left. there's two jobs reports that are left. about 33, 34 days that are left in this campaign. it's a long time. but what you saw going into this debate are polls...
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they have to take the carpet tax up before the carbon tax. >> i gotcha. >> the carpet tax. >> animal crackers? >> no, no. >> duck soup? oh, man, is that terrible. >> part of the imf forecast, jim, bringing the numbers down for the global economy has been austerity does not work. >> it doesn't work. but that's paul crudeman who says it. i pet you paul crudeman believes in the 7.8 number, the big phony number. i bet you crudeman believes in it. how is that the focus of the discourse? i'm trying to make it alcoa. look, the imf is saying the obvious. the world bank is saying the obvious. if you continue to call for austerity you can't get growth. it's like, look, you want growth or want austerity. lyndon johnson, guns and butter equals inflation. if you just -- they are not doing guns or butter. if they are not doing margarine, they aren't doing machine guns. >> then you start again but they can't do that. >> we are devalued better than they are devalued. >> you would think we would be but the dollar is much stronger given anticipation of where rates are. >> true enough. stock specific s
they have to take the carpet tax up before the carbon tax. >> i gotcha. >> the carpet tax. >> animal crackers? >> no, no. >> duck soup? oh, man, is that terrible. >> part of the imf forecast, jim, bringing the numbers down for the global economy has been austerity does not work. >> it doesn't work. but that's paul crudeman who says it. i pet you paul crudeman believes in the 7.8 number, the big phony number. i bet you crudeman believes in it. how is...
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tax cuts. does he have to get specific? >> i think lara will ask that. >> he's got to do well. he's got to show well in this. i don't think ratcheting up expectation is good. i think what you want to do if you're getting ready for the debate is ratchet down expectation. i think he'll do fine. he needs to have a knockout. it doesn't need to be a decision. it needs to be a ko. >> how much of this debate is going to be about the economy and jobs and taxes tonight as opposed to education, health care, social issues, what have you? >> well, all those things matter, certainly when it comes to education, that's the future. i mean, the future generations will be -- will fail, rise, or fall based on education, so that's a very important building block for the country going forward. >> is that a building block for romney's campaign? >> it is. it's something he's talked about. he has an idea for americans and education that's very different from what president obama has been able to do. president obama wo
tax cuts. does he have to get specific? >> i think lara will ask that. >> he's got to do well. he's got to show well in this. i don't think ratcheting up expectation is good. i think what you want to do if you're getting ready for the debate is ratchet down expectation. i think he'll do fine. he needs to have a knockout. it doesn't need to be a decision. it needs to be a ko. >> how much of this debate is going to be about the economy and jobs and taxes tonight as opposed to...
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, zero tax returns i think. what did you find out, anything? >> billion in a prior story, not this story, when we looked at earmarks we did find earmarks that was very close to his undeveloped property. >> right, i saw a nice deal here on a land deal in 1998, 700 grand. anyway, just wondered. >> right, exactly. we have a whole host of stories that we've done that look more at this intersection between their duties and their personal assets and that's -- >> that's the best way, not with a couple of, you know, stock tips in congress. i like it ben they do the earmarks, where they buy something and then maybe check the former speaker, too. anyway, right? kimberly, thank you. appreciate it. >> thank you very much for having me. >> all right, see you. >>> oh, it's me. coming up, this morning's top stories set to foreboding music. the rails for the white house, both hitting the campaign trail. former governors face off in the issues and former hp boss carly fiorina, why she calls the board a serial dysfunction, and no
, zero tax returns i think. what did you find out, anything? >> billion in a prior story, not this story, when we looked at earmarks we did find earmarks that was very close to his undeveloped property. >> right, i saw a nice deal here on a land deal in 1998, 700 grand. anyway, just wondered. >> right, exactly. we have a whole host of stories that we've done that look more at this intersection between their duties and their personal assets and that's -- >> that's the...
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to avert the fiscal cliff, in which everything from payroll taxes to full tax rates will go up. >>> and now our fourth story outfront. under attack by hackers. this was pretty incredible because the white house today confirmed that its military office was the target of a cyber attack with a suspected attacker, china. this is the office responsible for the united states of america's nuclear warplane. now, cnn has learned this was an unclassified network which was hit. officials say they dealt with the threat, but these attacks are relentless and the pentagon encounters thousands of them a day. how does washington keep up with this threat? "outfront" tonight, retired colonel cedric leighton. colonel, great to see you. the white house is saying we dealt with this, still, this is the white house. this is an office which is responsible for the united states of america's nuclear war plans how. how serious was this? >> it's great to see you, too, but this is too close for comfort when it comes to hacking attacks, especially when it comes to protecting the nuclear codes and anything else th
to avert the fiscal cliff, in which everything from payroll taxes to full tax rates will go up. >>> and now our fourth story outfront. under attack by hackers. this was pretty incredible because the white house today confirmed that its military office was the target of a cyber attack with a suspected attacker, china. this is the office responsible for the united states of america's nuclear warplane. now, cnn has learned this was an unclassified network which was hit. officials say they...
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let's talk about the tax cuts. he signalled over the last couple of days, details about how they would pay for it they didn't put out details, they backed away from it. they are not being honest with the american people. you know what's worse? he got testy about it, being on defense and i think that came across to the american people. >> the president seemed to get testy at one point when he was interrupted by jim lehrer. will the president do more debate prep before the next debate, prepare differently. do you think he didn't take this seriously enough? >> we feel good about the president's performance here tonight. he wasn't speaking to the people in the room, the pundit class, but people at home. i think what people heard tonight was a plan forward, a detailed plan on how we'll rebuild the economy and strengthen the middle class. another guy that got testy, interrupted the moderator. i wondered if we needed a moderator since we had mitt romney. and someone doubling down on the very same policies that crashed the
let's talk about the tax cuts. he signalled over the last couple of days, details about how they would pay for it they didn't put out details, they backed away from it. they are not being honest with the american people. you know what's worse? he got testy about it, being on defense and i think that came across to the american people. >> the president seemed to get testy at one point when he was interrupted by jim lehrer. will the president do more debate prep before the next debate,...
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the earned income tax credit. i doubled the earned income tax credit. it was signed under a republican president. reagan started it. we started it with a strong support of republicans in congress. president bush dealt with that, then president obama increased the earned income tax credit for families with more than three children. this is a rejection of basically more than three decades of bipartisan policy to support working families. it's not a bunch of free loaders. there's only 4% of the total population who don't pay federal income tax and don't work and may not be looking for work. we now have the numbers on this, so, i think that most important thing for him is to find a way to relate to more people in these debates and speak to more of them. this is not the republican primary anymore. >> is he principled, do you think? mitt romney? >> that's not the issue, to me. i think he will -- i think he's principled in the sense that he will keep the commitments that he has made. almost all people when they run for p
the earned income tax credit. i doubled the earned income tax credit. it was signed under a republican president. reagan started it. we started it with a strong support of republicans in congress. president bush dealt with that, then president obama increased the earned income tax credit for families with more than three children. this is a rejection of basically more than three decades of bipartisan policy to support working families. it's not a bunch of free loaders. there's only 4% of the...
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to save and invest tax free. this is one of the big differences between these two candidates. mitt romney has a pro growth tax reform plan and create jobs and get the economy moving. you heard the president has no plans whatsoever. >> but the democrats keep pointing out you're being very vague and you're not being very specific in the so-called offsets. how do you pay for $5 trillion in tax cuts without raising the deficit? >> well, you know what, wolf, i'm reminded of what happened in 1986, the last time the congress and the president reagan at the time undertook major tax reform. the president didn't come forward with a plan, take it or leave it plan that he presented to the congress. instead, he articulated some broad principles that would guide him in his negotiations with congressional leaders and those led to major tax reform. that created a major economic expansion in this country. those are the same principles that governor romney would follow, if he's elected as president. >> so, he's not going to spell
to save and invest tax free. this is one of the big differences between these two candidates. mitt romney has a pro growth tax reform plan and create jobs and get the economy moving. you heard the president has no plans whatsoever. >> but the democrats keep pointing out you're being very vague and you're not being very specific in the so-called offsets. how do you pay for $5 trillion in tax cuts without raising the deficit? >> well, you know what, wolf, i'm reminded of what happened...
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that he would not cut taxes at all if they added to the deficit at all. now, as "the washington post" reporter checks out, for two years rom hi has been campaigning on a tax cut that would cost around $5 trillion over ten years. he said he would eliminate deductions and spending to pay for it. he never offers details. he did say he would cut funding for public broadcasting which was 0.01% in 2012. medicaid was 0.13%. romney also spoke in favor of regulations including much of the dodd/frank bill and he repeatedly held up as a model his health care plan in massachusetts which has added center the individual mandate and on which obama care is based. romney's transformation did not happen overnight. the candidate has been reworking his stuck stuck speech. he has a five-point stump speech. the first four points are absolutely identical to obama's stump speech. 2, dough mess tech energy, 3, retraining programs, four, domestic. on five they differ. i've long argued that romney is an intelligent man trapped in a party that has forced him to embrace extreme and i
that he would not cut taxes at all if they added to the deficit at all. now, as "the washington post" reporter checks out, for two years rom hi has been campaigning on a tax cut that would cost around $5 trillion over ten years. he said he would eliminate deductions and spending to pay for it. he never offers details. he did say he would cut funding for public broadcasting which was 0.01% in 2012. medicaid was 0.13%. romney also spoke in favor of regulations including much of the...
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tax rates by 20%. this could add up to $5 trillion, a big cut. but it doesn't take into account eliminating deductions and closing loopholes it would reduce tax cuts on the wealthy, but the problem is romney hasn't been specific about which reductions and how many? false on the claim. eliminating any tax cut would make it less than 5 trillion, even if it's which deductions and which loopholes. you mitt romney likes to talk about the middle class squeeze. wages down and all kinds of prices are up. >> do you realize over the last four years, every year you have seen the median income in america come down. income is down some 4,300 a family. the middle class squeeze has been unbearable. gasoline prices way up. food prices up, electricity prices up. health insurance costs up. >> the facts in this, easy to fin. median income down over the last four years, but only about 2,500 since president obama took office and prices for all those items are up, though, food and electricity barely, so the verdict is true,
tax rates by 20%. this could add up to $5 trillion, a big cut. but it doesn't take into account eliminating deductions and closing loopholes it would reduce tax cuts on the wealthy, but the problem is romney hasn't been specific about which reductions and how many? false on the claim. eliminating any tax cut would make it less than 5 trillion, even if it's which deductions and which loopholes. you mitt romney likes to talk about the middle class squeeze. wages down and all kinds of prices are...
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he is right in saying that 47% of the country pays no income taxes. that's a fact. but conservetism means you talk hope. you speak of lifting those people up so they can make it in america. they want to become taxpayers. that's where he was tonal deaf. >> but his response now is saying he was completely wrong which is different than what he said earlier which is like well, i stated it inelegantly. he's now using this blanket statement which allows people to interpret it as they will. >> i think what he is saying there is he was completely wrong to speak pejoratively of the 47% and he was completely wrong to do that. he is right about the basic economics of our country. >> okay. >> we have gotten to the point where the country is half paying no income taxes and getting the advantages of government. >> roland -- >> does that mean it's the right number, too high, too low, that's a good argument to get into. >> i'm utterly confused right now. i'm utterly confused because ari is trying to explain the original comment from mitt romney which i thought mitt romney was very
he is right in saying that 47% of the country pays no income taxes. that's a fact. but conservetism means you talk hope. you speak of lifting those people up so they can make it in america. they want to become taxpayers. that's where he was tonal deaf. >> but his response now is saying he was completely wrong which is different than what he said earlier which is like well, i stated it inelegantly. he's now using this blanket statement which allows people to interpret it as they will....
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tax cut across the board. mitt romney never specified the deductions that he discusses and doesn't give specifications on, to say i don't have a tax cut is surreal and the president with malpractice not pushing back on that and demanding specifics. >> some of the president's supporters said he needed a cup of coffee or two after watching that. let's listen to this from the president, guys and then, john, i want your thoughts on this one. >> does anybody out there think that the big problem we had is that there was too much oversight and regulation of wall street? because if you do, then governor romney is your candidate. >> did he, john, miss an opportunity to go further with the banks there? >> i mean, that was one of i think president obama's better lines in the debate because he was calling out in a limited way and halting way all of a sudden mitt romney saying that the problem with the dodd-frank was that it was a big kiss to the new york banks which is itself a surreal etch-a-sketch moment. the president
tax cut across the board. mitt romney never specified the deductions that he discusses and doesn't give specifications on, to say i don't have a tax cut is surreal and the president with malpractice not pushing back on that and demanding specifics. >> some of the president's supporters said he needed a cup of coffee or two after watching that. let's listen to this from the president, guys and then, john, i want your thoughts on this one. >> does anybody out there think that the big...
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because he wants to keep open the tax loopholes that encourage jobs overseas. i want to make sure that we're providing tax breaks from companies right here in america. i want to help big factories and small businesses double their exports. i want more goods stamped with made in america. i want to create 1 million new manufacturing jobs in the next four years. >> obama care is point number one. it is the example number one where he wants to put bureaucrats between you and your doctor, he believes that the government should tell you what kind of insurance you have to have. he believes that government should have a board of people that tell you what kind of care you can receive. my view is we fight for freedom in this country, i do not want an intrusive massive larger debt spending government that crushes the american dream. >> they like to call it obama care, well, let me tell you, i do care. i care about all the young people who are able to stay on their parents' plans now. i care about the seniors who are seeing lower prescription drug costs. i care about folks
because he wants to keep open the tax loopholes that encourage jobs overseas. i want to make sure that we're providing tax breaks from companies right here in america. i want to help big factories and small businesses double their exports. i want more goods stamped with made in america. i want to create 1 million new manufacturing jobs in the next four years. >> obama care is point number one. it is the example number one where he wants to put bureaucrats between you and your doctor, he...
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when people hear taxes they say i need details. because i pay taxes. i want to know exactly what's going to happen if you're elected. i speak for america. no. but i certainly speak for myself and paying taxes. that's what i want to know. >> speaking only for soledad o b bri yen. >>> they're the kind of experiences you'd assume nobody could survive. young woman sold into sexual slifry. the young women are fighting back. [ male announcer ] extreme environments can cause a spontaneous change in dna, resulting in unexpected power and agility. introducing the all-new, all-powerful gator rsx 850i. sixty-two horsepower, a fully independent multilink suspension and a top speed of 53 miles per hour. it's a whole new species of gator. see just how much the gator has evolved at johndeere.com/gator. >>> welcome back to "starting point," everyone. a couple stories you cannot miss this morning. we're going a little bit highbrow on you right now. assault charges have been dropped against the man accused of choking wie ining lindsay lo cell phone pictures. she told po
when people hear taxes they say i need details. because i pay taxes. i want to know exactly what's going to happen if you're elected. i speak for america. no. but i certainly speak for myself and paying taxes. that's what i want to know. >> speaking only for soledad o b bri yen. >>> they're the kind of experiences you'd assume nobody could survive. young woman sold into sexual slifry. the young women are fighting back. [ male announcer ] extreme environments can cause a...
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. >> to go ahead on that, a woman who wanted to be tax free bequeathment of her inherit answer -- it's a sweeping change of proposition eight. i'm flat out of time because we had such breaking news with jerry sandusky, i could talk to you until the cows come home. thank you for talking to us again, and good luck with the documentary. >> wonderful, i'll see you next time. >> i hope so. i'd like to be in one of your sermons one day, you'll have to get me out there. >>> the economy is starting to turn around. did you know that four legged friends may have something to do with it? i kid you not. [ male announcer ] alka-seltzer plus presents the cold truth. i have a cold... i took dayquil, but i still have a runny nose. [ male announcer ] truth is, dayquil doesn't work on runny noses. what? [ male announcer ] it doesn't have an antihistamine. really? [ male announcer ] really. alka-seltzer plus cold and cough fights your worst cold symptoms, plus has a fast acting antihistamine to relieve your runny nose. [ sighs ] thank you! [ male announcer ] you're welcome. that's the cold truth! [ male
. >> to go ahead on that, a woman who wanted to be tax free bequeathment of her inherit answer -- it's a sweeping change of proposition eight. i'm flat out of time because we had such breaking news with jerry sandusky, i could talk to you until the cows come home. thank you for talking to us again, and good luck with the documentary. >> wonderful, i'll see you next time. >> i hope so. i'd like to be in one of your sermons one day, you'll have to get me out there. >>>...
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what $5 trillion tax cut? i don't know anything about a $5 trillion tax cut. pay no attention to that tax cut under the carpet behind the curtain. when he's asked how he'll cut the deficit, he says he can make the math work by eliminating local public funding for pbs. now, by the way, this is not new. this is what he's been saying every time he's asked the question. well, we can cut out pbs. so for all you moms and kids out there, don't worry. somebody's finally getting tough on big bird. you know, who knew he was driving our deficit? so we're going after -- he's decided we're going after big bird and elmo's making a run for the border and oscar's hiding out in the trash can and governor romney wants wall street to run wild again but bring down the hammer on sesame street. look, that is not leadership. that's salesmanship. we can't afford it. we can't afford to double down on top down economics. we can't afford another round of tax cuts for the wealthy. we can't afford to roll back regulations on wall street banks or on insurance companies. we can't afford to
what $5 trillion tax cut? i don't know anything about a $5 trillion tax cut. pay no attention to that tax cut under the carpet behind the curtain. when he's asked how he'll cut the deficit, he says he can make the math work by eliminating local public funding for pbs. now, by the way, this is not new. this is what he's been saying every time he's asked the question. well, we can cut out pbs. so for all you moms and kids out there, don't worry. somebody's finally getting tough on big bird. you...
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how in lord's name can they justify raising their taxes with these tax cuts? >> a tweet from mitt romney says this, agreed with @joe biden, the middle class has been buried last four years which is why we need a change in november. let's bring in chief political analyst gloria borger. channel in vice president joe biden right now. what was he trying to say obviously didn't come across as he clearly would like. >> well, what he was clearly trying to say and the obama campaign was quick to point this out is that what he was trying to say is that the middle class was buried urntd george w. bush and that's what started the problems for the middle class and that the obama administration has started to pull it out by its boot straps. and so the obama campaign just in case we didn't get that has a statement that says that the romney campaign is taking this entirely out of context. it's obviously in looking at the full transcript that joe biden was talking about the fact that the middle class was buried under failed bush policies. and of course they say romney/ryan wo
how in lord's name can they justify raising their taxes with these tax cuts? >> a tweet from mitt romney says this, agreed with @joe biden, the middle class has been buried last four years which is why we need a change in november. let's bring in chief political analyst gloria borger. channel in vice president joe biden right now. what was he trying to say obviously didn't come across as he clearly would like. >> well, what he was clearly trying to say and the obama campaign was...
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. >>> in president obama's and mitt romney's first face-off they spard over health care and taxes. but they didn't mention gun control, a topic my next guest says should have been raised, especially in colorado, a state that had two of the country's deadliest massacre in 19 years. steven barten is joining me now to talk about this. he was one of 58 people wounded in the aurora shooting, shot in the face and the neck. steven, good morning to you. first of all, let me ask how you're feeling. >> i'm feeling just fine. my recovery's gone remarkably well. >> well, that is certainly good news to hear. you were one of the lucky ones. what would you liked to have seen wednesday night at the first presidential debate in terms of the discussions about guns. >> i mean really any specific discussion or reference to the issue would have been great. ideally i would have loved both candidates to talk about whether they support having a background check. that's a huge issue and it would have been great to see, that especially in an auditorium ten miles from a theater where i was shot and so many o
. >>> in president obama's and mitt romney's first face-off they spard over health care and taxes. but they didn't mention gun control, a topic my next guest says should have been raised, especially in colorado, a state that had two of the country's deadliest massacre in 19 years. steven barten is joining me now to talk about this. he was one of 58 people wounded in the aurora shooting, shot in the face and the neck. steven, good morning to you. first of all, let me ask how you're...
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one thing or another is that a tax increase or not? it is through the tax system. so, did you lie? he's going to say no, i did not lie. >> you say something, you call him out on it. here's the deal. romney's not going to try to bring it up in the debate. nor will president obama because the moment you do, you have opened the door for your opponent to actually you out. so, responsibility's going to rest on the debate moderator, who is not going to do it, but again, what people are saying is can i get somebody to tell me the truth? you can cross words all you want to, but there are some things called undeniable truth. so no matter how you want to dance around it, some things are very clear. >> there's also such a thing as throwi throwing things against the wall and that is what the obama campaign has been effective at doing and the romney campaign hasn't been. >> the romney campaign, they have been -- i can show you the proof. go to our website. again, you have campaigns -- >> check up on after the fact. >> my point, you said earlier -- i said absolutely. if you have that many eyebal
one thing or another is that a tax increase or not? it is through the tax system. so, did you lie? he's going to say no, i did not lie. >> you say something, you call him out on it. here's the deal. romney's not going to try to bring it up in the debate. nor will president obama because the moment you do, you have opened the door for your opponent to actually you out. so, responsibility's going to rest on the debate moderator, who is not going to do it, but again, what people are saying...
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the challenger, it was the budget and taxes. president obama spent the third most time talking about budget and taxes, about a minute less than governor romney. romney's number three issue was health care. big differences when you drill down. take a look at energy, president obama spent 19 secti9 seconds on energy. governor romney, 1:43 seconds. when asked a question about education, he pivoted to energy. 2:17. president obama devoted 4:15, almost twice as much. watching this very closely. anderson, back to you. >> john king locklooking closer at the flash poll numbers. you have numbers on the economy. >> they asked the question, who would better handle the economy? let me scroll down. clear in the poll, the overall verdict to governor romney who won the debate. who better to handle the economy, obama 43, romney 55. the defining question of the election. >> compared to where it was before? >> we have to be careful this is registered voters who watched the debate. in our most recent national poll, they were tied on that question.
the challenger, it was the budget and taxes. president obama spent the third most time talking about budget and taxes, about a minute less than governor romney. romney's number three issue was health care. big differences when you drill down. take a look at energy, president obama spent 19 secti9 seconds on energy. governor romney, 1:43 seconds. when asked a question about education, he pivoted to energy. 2:17. president obama devoted 4:15, almost twice as much. watching this very closely....
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his tax cut wouldn't be anywhere near that size. >> so you're disputing the size of the tax cut? or are you disputing also how he's going to pay for it? >> we're disputing the size. >> erin, he has campaigned on lowering tax cuts by 20% for everybody, including those in the top 1%. that was one of the main selling points in the republican primary. >> so you're saying if you lower them by 20% you get a $5 trillion tab, right? >> it's a $5 trillion tab. >> but when he closes deductions he won't be anywhere near $5 trillion. that's our analysis. >> well with, okay, stipulated, it won't be near $5 trillion, but it's also not going to be the sum of $5 trillion in the loopholes that he's going to close. it is going to cost someone and it's going to cost the middle class. independent economists have taken a look at this. there aren't enough deductions for those at the top to account for the number of tax cuts that they get because of mitt romney's policies. you have to raise taxes on the middle class, as bill clinton says, it's simple math. >> they'll say, though, that you can do that.
his tax cut wouldn't be anywhere near that size. >> so you're disputing the size of the tax cut? or are you disputing also how he's going to pay for it? >> we're disputing the size. >> erin, he has campaigned on lowering tax cuts by 20% for everybody, including those in the top 1%. that was one of the main selling points in the republican primary. >> so you're saying if you lower them by 20% you get a $5 trillion tab, right? >> it's a $5 trillion tab. >> but...
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you're still raising taxes on the middle class. even his own economists that he relies on says you can't cut taxes by $5 trillion out paying for it by cutting deductions for people making $200,000 and less. that's just a fact. you can't do it. even if you close every single deduction for people making over $200,000, or $250,000 for families, you're still a trillion short. so he has to tell us how he will do this without increasing taxes on the middle class. so far the math does not add up. >> vice president biden said they have been buried. and they are jumping all over this, listen here to senator marco rubio. >> those are not my words. those happen to be the words of the distinguished vice president of the united states, mr. joe biden. don't boo, he is the best thing we have going, guys. don't boo. because in a moment of clarity, in a brief moment of clarity, he said what we knew. >> gaffe or no gaffe, and you will tell me it's not, isn't it still a problem for the president? >> no. you know, i heard senator rubio, and i heard th
you're still raising taxes on the middle class. even his own economists that he relies on says you can't cut taxes by $5 trillion out paying for it by cutting deductions for people making $200,000 and less. that's just a fact. you can't do it. even if you close every single deduction for people making over $200,000, or $250,000 for families, you're still a trillion short. so he has to tell us how he will do this without increasing taxes on the middle class. so far the math does not add up....
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nobody knows what their tax rate will be. so companies who can put off hiring are putting it off. >> if you were to advise the romney camp because they're counting on stumping on the bad economy, bad job growth, all of that, what would you advise them right now? would they need to recraft their message? stay away from it? how do they capitalize on their message and at the same time, not contradict what the latest numbers and indicators are saying? >> well, mitt romney is right when he says the economy is not recovering enough, but i think he's got a problem which is that when people sort of intuitively feel things getting better and they hear a candidate who keeps saying things are not getting better. things are not getting better fast enough. he comes off as a gloomy gus. so i think the best thing romney can probably do is we know he's going to continue telling us what's wrong with the economy. he's generally right about that. he should start talking about some of the positive proactive things he plans to do to really reinvi
nobody knows what their tax rate will be. so companies who can put off hiring are putting it off. >> if you were to advise the romney camp because they're counting on stumping on the bad economy, bad job growth, all of that, what would you advise them right now? would they need to recraft their message? stay away from it? how do they capitalize on their message and at the same time, not contradict what the latest numbers and indicators are saying? >> well, mitt romney is right when...
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tax cuts. you knew this was going to be a big issue. president obama went on the attack saying mitt romney is essentially pitching a huge tax cut for the rich. >> governor romney's central economic plan calls for a $5 trillion tax cut on top of the extension of the bush tax cuts, that's another trillion and $2 trillion in additional military spending that the military hasn't asked for. >> mitt romney does propose across the board 20% tax cuts in the nonpartisan tax center says under that plan, taxes on the wealthiest americans would be reduced by $5 trillion. initially. but romney says he would offset the cuts with reductions and deductions and closing loopholes that will reduce the tax cut for the wealthy. so our verdict here is that president's saying he would cut the taxes by $5 trillion on wealthy is false because any deduction you take out will make it smaller. there is more to this story. on the deficit, mitt romney claims with the tax cuts he'll not add to the deficit. >> my number one p
tax cuts. you knew this was going to be a big issue. president obama went on the attack saying mitt romney is essentially pitching a huge tax cut for the rich. >> governor romney's central economic plan calls for a $5 trillion tax cut on top of the extension of the bush tax cuts, that's another trillion and $2 trillion in additional military spending that the military hasn't asked for. >> mitt romney does propose across the board 20% tax cuts in the nonpartisan tax center says under...
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i will not put in place a deficit thdea tax that adds to the deficit. my plan is not to put in place any tax cut that will add to the deficit. >> we want to look at the facts here, again. mitt romney has not laid out specifics for how he would pay for his tax cut. he says it's by reducing deductions and closing loopholes, but he hasn't said which or how many. so, the verdict here is simply incomplete. we just don't know. >> that was john burrman reporting there for us. one way, though, is that romney has said that he would actually pay for this reduced revenue is by capping itemized deductions, but still so few specifics. i mean, he floated the idea of capping deductions at 17,000 and then floated the idea of capping them at 25,000 or 50,000. don't voters deserve to know and need to know what it is going to be at this point? >> i think he's going to have to give more specifics, certainly. a debate may not be the best platform to give specifics because the answers are supposed to be short and, frankly, randi, he was able to get away with not giving many
i will not put in place a deficit thdea tax that adds to the deficit. my plan is not to put in place any tax cut that will add to the deficit. >> we want to look at the facts here, again. mitt romney has not laid out specifics for how he would pay for his tax cut. he says it's by reducing deductions and closing loopholes, but he hasn't said which or how many. so, the verdict here is simply incomplete. we just don't know. >> that was john burrman reporting there for us. one way,...
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how in lord's name can they justify raising taxes with these tax cuts? >> vice president biden just today said that the middle class over the last four years has been, quote, buried. we agree. that means we need to stop digging by electing mitt romney the next president of the united states. of course the middle class has been buried. they're being buried by regulations. they're being buried by taxes. they're being buried by borrowing. they're being buried by the obama administration's economic failures. >> reporter: romney campaign put together a conference call to draw attention, more focus to the comments by the vice president. the obama campaign pushed back saying this was just another act of desperation and what the vice president was talking about were -- were situations or a climate that was put in place by the failed policies of the former administration. i'll tell you what, at the very next event during his remarkings, the vice president did touch on the same subject but left out the word buried. soledad? >> walk us through the logistics of toni
how in lord's name can they justify raising taxes with these tax cuts? >> vice president biden just today said that the middle class over the last four years has been, quote, buried. we agree. that means we need to stop digging by electing mitt romney the next president of the united states. of course the middle class has been buried. they're being buried by regulations. they're being buried by taxes. they're being buried by borrowing. they're being buried by the obama administration's...
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. >> rather like his tax policies, the devil in the detail has not emerged yet. we look forward to hearing that. what i want to play you is a clip from "saturday night live" showing president obama onstage in denver. let's watch this. >> excuse me, governor. mr. president? >> i'm sorry, yeah. yeah. what's up? >> mr. president, governor romney has just said that he killed osama bin laden. would you care to respond? >> no, you two go ahead. >> it was a fairly dismal performance, wasn't it. as a result the polls are quite shocking today. this pew poll, there's been a swing from september 12th to 16th, it's gone from 51% to 43% in obama's favor to 49% to 45% in romney's favor. this is catastrophic, isn't it? >> it's not catastrophic. it's a poll. but look, there's no secret, the president didn't have a good debate performance. we have got to get out there, all democrats, all people who support president obama, and aggressively make the case because on the substance of economic policy, we have the better plan. look, all mitt romney wants to do is go back to the plan t
. >> rather like his tax policies, the devil in the detail has not emerged yet. we look forward to hearing that. what i want to play you is a clip from "saturday night live" showing president obama onstage in denver. let's watch this. >> excuse me, governor. mr. president? >> i'm sorry, yeah. yeah. what's up? >> mr. president, governor romney has just said that he killed osama bin laden. would you care to respond? >> no, you two go ahead. >> it was...
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is going to increase taxes across the board of the biggest tax increase in history on january 1st. and mitt romney understands that you have to have small business to grow these jobs. and that's the way we're going to invest in small businesses. take the job-killing obamacare regulations that will crush small businesses, but then give -- replace it with good policies that allow businesses to buy health insurance with what they need, buy it across state lines, have preexisting conditions covered. but the kind of policies that they won't be bankrupt and fined. and 20 million people are expected by this -- by the administration's own calculations, 20 million people -- i guess it was cbo said it would lose their coverage under obama care and that's not going to work for my state of virginia. >> i have to say, i hope he has your ability to go without taking a breath and have things that make sense. jim, let me ask, barbara talked about mitt romney wants to talk about his tax plan. i'm sure that the president wants to talk about mitt romney's tax plan too. specifically that promise to cu
is going to increase taxes across the board of the biggest tax increase in history on january 1st. and mitt romney understands that you have to have small business to grow these jobs. and that's the way we're going to invest in small businesses. take the job-killing obamacare regulations that will crush small businesses, but then give -- replace it with good policies that allow businesses to buy health insurance with what they need, buy it across state lines, have preexisting conditions...
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we need tax revenue, we need to see additional tax revenues generated. we don't need to see that much general rayed. that would be counter-produce. >> what if they let the taxes lapse for the wealthiest americans which is what president obama wanted those families making more than $250,000 a year, individuals making more than $200,000 a year, what would the impact of that be? >> well, you know, that would hurt but that is something that the economy could digest because the -- total hit would be much smaller. of course, you are hitting higher income households who have other saving, other financial resources. they wouldn't pull back on their spending to the same degree. association you know, all else being equal it would be -- a negative to the economy in the very near term but it is something the economy could digest and -- ultimately longer run we need to address our fiscal situation. that is, we need government spending cuts and we need additional tax revenue. both of those things to address our fiscal problems. one way or the other we are going to nee
we need tax revenue, we need to see additional tax revenues generated. we don't need to see that much general rayed. that would be counter-produce. >> what if they let the taxes lapse for the wealthiest americans which is what president obama wanted those families making more than $250,000 a year, individuals making more than $200,000 a year, what would the impact of that be? >> well, you know, that would hurt but that is something that the economy could digest because the -- total...
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moreover the next six weeks, and over and over again, you will hear my opponents talking about how bigger tax cuts and fewer regulations and that's the way to go, and since government can't do anything, it should do almost nothing. if you can't afford health care, then hope you don't get sick is their theory. if you can't afford college, borrow money from your parents. you know what? that's not who we are. i don't think government can solve all of our problems, but government is not the source of all of our problems, either. there's stuff we can do together. instead of blaming, immigrants, unions or gays or somebody for what is going on, what we need to do is pull together. we're all in this together. we believe that america only works when we all accept responsibility for ourselves and for our each other. that's how we create -- >> mr. obama will be on the road through wednesday's first presidential debate. mitt romney heads to colorado tomorrow where he will hold a rally and continue his preparations for wednesday's showdown in denver. he went to church this morning outside boston but held
moreover the next six weeks, and over and over again, you will hear my opponents talking about how bigger tax cuts and fewer regulations and that's the way to go, and since government can't do anything, it should do almost nothing. if you can't afford health care, then hope you don't get sick is their theory. if you can't afford college, borrow money from your parents. you know what? that's not who we are. i don't think government can solve all of our problems, but government is not the source...
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vo: why won't romney level with us about his tax plan, which gives the wealthy huge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? ♪ ♪ we're lucky, it's not every day you find a companion as loyal as a subaru. love. it's what makes a subaru, a subaru. zoirchgs a space rocket blasted off from cape canaveral last night launching the fist private flight from the international space station. >> liftoff of the space x falcon 9 rocket. launching dragon to the international space station and returning cargo -- >> the unmanned capsule called dragon is on its way to the space station after separating from its rocket. it's carrying 1 240us pounds of cargo. the company has been contracted by nasa to fly a dozen flights to resupply the space station. >>> fearless felix, he is also known as felix baumgartner, and he has gotten to be pretty fearless. he actually is going to jump out of a balloon. this is 23 miles above the earth. this is exactly
vo: why won't romney level with us about his tax plan, which gives the wealthy huge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? ♪ ♪ we're lucky, it's not every day you find a companion as loyal as a subaru. love. it's what makes a subaru, a subaru. zoirchgs a space rocket blasted off from cape canaveral last night launching the fist private...
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taxes. >> that's correct. it's just the way he formlated it. >> thanks very much. we'll be right back. [ female announcer ] almost nothing can dampen a baby's mood, when he wakes up dry in pampers. unlike other diapers, pampers has 3 absorbent layers, for up to 12 hours of protection overnight, and more beautiful mornings. ♪ [ female announcer ] pampers. peaceful nights. playful days. not quite knowing what the next phase was going to be, you know, because you been, you know, this is what you had been doing. you know, working, working, working, working, working, working. and now you're talking about, well you know, i won't be, and i get the chance to spend more time with my wife and my kids. it's my world. that's my world. ♪ that's my world. when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop
taxes. >> that's correct. it's just the way he formlated it. >> thanks very much. we'll be right back. [ female announcer ] almost nothing can dampen a baby's mood, when he wakes up dry in pampers. unlike other diapers, pampers has 3 absorbent layers, for up to 12 hours of protection overnight, and more beautiful mornings. ♪ [ female announcer ] pampers. peaceful nights. playful days. not quite knowing what the next phase was going to be, you know, because you been, you know, this...
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federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax added up to well over 50% of what they earned. your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. so what i do is i bring down the tax rates, lower deductions and exemptions, the same idea behind bowles-simpson, by the way. lower the exemptions to create more jobs because there's nothing better for getting us to a balanced budget than having more people working, earning more money, paying more taxes. that's by far the most effective and efficient way to get this budget balanced. >> jim, you may want to move on to another topic, but i would just say this to the american people. if you believe that we can cut taxes by $5 trillion and add $2 trillion in additional spending that the military is not asking for, $7 trillion, just to give you a sense over ten years, that's more than our entire defense budget, and you think
federal income tax, federal payroll tax, state income tax, state sales tax, state property tax, gasoline tax added up to well over 50% of what they earned. your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. so what i do is i bring down the tax rates, lower deductions and exemptions, the same idea behind bowles-simpson, by the way....
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vo: why won't romney level with us about his tax plan, which gives the wealthy huge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? and the candidate's speech is in pieces all over the district. the writer's desktop and the coordinator's phone are working on a joke with local color. the secure cloud just received a revised intro from the strategist's tablet. and while i make my way into the venue, the candidate will be rehearsing off of his phone. [ candidate ] and thanks to every young face i see out there. [ woman ] his phone is one of his biggest supporters. [ female announcer ] with cisco at the center... working together has never worked so well. >>> joining us, the democratic strategist hilary rosen and republican strategist john feri. seeing a softer side of mitt romney, telling personal stories we haven't heard him do in the past. let me play a little clip. >> so i put my hand on his shoulder and i reached over and i said, billy,
vo: why won't romney level with us about his tax plan, which gives the wealthy huge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? and the candidate's speech is in pieces all over the district. the writer's desktop and the coordinator's phone are working on a joke with local color. the secure cloud just received a revised intro from the...
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now, as for those specifics on taxes, i go back to the last time we successfully had major tax reform which was in 1986 with ronald reagan as president. he didn't come out with all the specifics. he worked with the congress behind the scenes, and they achieved meaningful tax reform because they kept those discussions private, they didn't draw public lines in the sand and therefore, they emerged successful. successful pattern to follow, ronald reagan's. on the other hand, you had the debt limit talks in 2011 where president obama in the middle of talks never, until this day, has gotten specific. we don't know if he offered to raise the medicare retirement age. we don't know how much he said he would cut medicare and enact entitlement reform. so he did the opposite. he went into a serious negotiation not as a candidate but as the president and never got specific. it's one of the reasons we never got a big debt limit deal. so i think mitt romney actually is following the reagan pattern. the question is who when it comes to real negotiation with congress will follow through and get it don
now, as for those specifics on taxes, i go back to the last time we successfully had major tax reform which was in 1986 with ronald reagan as president. he didn't come out with all the specifics. he worked with the congress behind the scenes, and they achieved meaningful tax reform because they kept those discussions private, they didn't draw public lines in the sand and therefore, they emerged successful. successful pattern to follow, ronald reagan's. on the other hand, you had the debt limit...
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vo: why won't romney level with us about his tax plan, which gives the wealthy huge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? >>> he is part evel knievel, part john glen, and a wee bit of christopher columbus, exploring territory and pushing physical limits to a place no man has ever gone before. his name is felix baumgartner. there he is, and if you don't know him, you should. here he is practicing for a jump, a jump from the edge of the stratosphere. he's going to attempt today to become the first person to break the sound barrier with his body and to jump from no place that anyone has ever jumped before. our meteorologist chad myers is so excited and cnn's brian todd also excited. both on this story for us. i want to start with you, brian todd, in roswell, new mexico. we've had a delay this morning because of some weather concerns, but i'm hearing that the balloon is now officially being unloaded, unfolded. i think that might be
vo: why won't romney level with us about his tax plan, which gives the wealthy huge new tax breaks? because according to experts, he'd have to raise taxes on the middle class - or increase the deficit to pay for it. if we can't trust him here... how could we ever trust him here? >>> he is part evel knievel, part john glen, and a wee bit of christopher columbus, exploring territory and pushing physical limits to a place no man has ever gone before. his name is felix baumgartner. there...